Togo joins the African Trade Insurance Agency, with the support of the European Investment Bank

Economic governance
Friday, 24 April 2020 16:18
Togo joins the African Trade Insurance Agency, with the support of the European Investment Bank

(Togo First) - Togo has joined the African Trade Insurance Agency (ATI). It is a pan-African financial institution that provides credit and political risk insurance products to support African investments. 

The adhesion of Togo was backed by the European Investment Bank (EIB) through a $12.5 million concessional loan. This was disclosed by the government of the West African country. 

The move was accelerated due to the coronavirus pandemic, which African countries believe will put pressure on their capacities to insure investment and commercial risks.

“As we are preparing to handle the economic impacts of the Coronavirus, African governments are trying to curb its short and long term effects,” said Togo’s minister of finance. “We believe that joining the ATI is necessary for us to reinforce our economy and face this storm.” 

Other West African nations that are already part of the ATI are Ghana, Niger, and Nigeria. They completed their adhesion in the past nine months. 

Ayi Renaud Dossavi

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.